Dienstag, 21. Dezember 2010

US diplomats were worried about Allen Stanford's business dealings three years before his financial empire
collapsed, according to WikiLeaks.

The Guardian, which has been publishing details of the cables, said the US embassy in Barbados raised the issue
in a cable dated May 3, 2006 after the ambassador attended a breakfast meeting with Stanford and Barbados' prime
minister.

The disclosure potentially raises fresh questions about the wisdom of the England and Wales Cricket Board to
sign a deal in 2008 with the financier for England to play five Twenty20 matches against the West Indies for a
£12 million prize.

In February 2009, Stanford was charged by the US Securities and Exchange Commission with multiple violations
of US securities laws in an alleged "massive" 8bn-dollar fraud.

The 2006 embassy cable noted: "Allen Stanford is a controversial Texan billionaire who has made significant
investments in offshore finance, aviation, and property development in Antigua and throughout the region. His
companies are rumoured to engage in bribery, money-laundering and political manipulation."

A comment appended to the cable added: "Embassy officers do not reach out to Stanford because of the
allegations of bribery and money-laundering. The ambassador managed to stay out of any one-on-one photos with
Stanford during the breakfast."

Meanwhile, WikiLeaks founder Julian Assange has criticised leaking of details of the sex assault charges he
faces in Sweden - which were also published in The Guardian, saying it was intended to undermine his
application for bail while he faced extradition proceedings.

Dienstag, 14. Dezember 2010

US authorities have told several brokers that they intend
to file civil charges against them over the alleged $8bn Ponzi scheme
at Allen Stanford's banking group.

US regulators have widened their investigation into the
alleged fraud at Allen Stanford's banking group, and are now looking
at brokers who worked with the bank as well as the bank's
top executives.

Allen Stanford has been held in custody since his arrest in June 2009 Photograph: David J. Phillip/AP

The Financial Times reported this morning that the
Securities and Exchange Commission had notified several brokers, as well
as
the head of Stanford International Bank's brokerage
operations, that it intends to file civil fraud charges against them.

Investigators allege that Stanford's banking operation was in
fact an $8bn (£5bn) Ponzi scheme - an investment in which returns
to investors are funded either through their own payments or
through those of subsequent investors rather than any genuine
investment returns.

The FT said that Danny Bogar, head of SIB's brokerage
operations, had been notified of the SEC's move by means of a Wells
notice,
a process used to alert individuals that they might face
civil charges. Bogar's lawyer said his client knew nothing about the
alleged fraud.

Patrick Cruickshank, a broker who worked in Stanford's office
in Austin, Texas from 2006 to 2009, also received a Wells notice,
the paper said, citing US regulatory filings. His lawyer said
Cruickshank had "done nothing wrong" and "was a victim of the
Stanford fraud".

Until now only Stanford, four senior executives at the bank
and an Antiguan regulator had been charged in connection with the
scheme.

Stanford, who has been held in custody since his arrest in
June 2009, denies the allegations. His trial is due to begin in
January, although defence lawyers argued last week that the
businessman was too heavily medicated to prepare for the
proceedings.

Former chief financial officer James Davis has pleaded guilty
and is co-operating with the probe. Others accused have denied
wrongdoing.